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HOME News Notice All List NRI hosted its first Global Regulation Conference with Fenergo

NRI hosted its first Global Regulation Conference with Fenergo

Apr. 14, 2016

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In March, NRI hosted its first ever Global Regulation Conference with Fenergo. In the current evolving regulatory environment, RegTech, the use of new technology to facilitate the delivery of regulatory requirements, has rapidly risen to prominence. The purpose of the conference was to educate our industry peers on the regulatory changes related to KYC, share industry challenges and present real solutions and case studies.

Takaaki Kobayashi, Senior Researcher at NRI kicked off the conference by introducing the basic concepts of client onboarding and KYC, which still remain fairly unfamiliar to financial institutions in Japan. Kobayashi further explained the potential risks that could arise by not changing the current status of KYC processing at these financial institutions.

Colm Heffernan, COO of Fenergo, also joined Kobayashi on stage and presented client case studies outlining how Fenergo provides solutions to combat industry challenges in regulatory client onboarding. Fenergo provides a flexible regulatory framework to support all regulatory rules and classifications including Dodd-Frank, FINRA, EMIR and FACTA. In particular, these solutions help solve operational inefficiencies by creating a centralized repository for entity data and documentation, future-proofing investment against an evolving regulatory landscape and reducing client on-boarding time and audit related costs. Clients of Fenergo’s services include Scotiabank, Bank of Montreal, and conference participant, HSBC.

Terri Reynolds, Interim Head, Banking Middle Office of HSBC in Japan, followed Heffernan’s presentation by explaining her bank’s experience working with Fenergo to implement solutions and functionalities. HSBC was struggling with simplifying and standardizing onboarding processes for new and existing clients, securing data privacy and achieving regulatory compliance, consistency and control across its global platforms. To improve these processes, the bank partnered with Fenergo due to its ability to have a single client lifecycle management/end to end process tool, connectivity to other service providers and a global, experienced team. During Reynold’s conference presentation, she highlighted the step by step roll out approach and phasing process.

NRI is continuing to expand its collaboration with other innovative, financial IT firms around the world in 2016, and is planning on co-hosting additional conferences with other industry leaders, like HSBC and Fenergo, to educate the financial community on proper regulatory and risk management.

Minoru Yokote, Senior Managing Director, NRI

The Latest Trends in Global Onboarding at Global Financial Institutions
Mr. Takaaki Kobayashi, Senior Researcher, NRI

Regulatory Client Onboarding
Mr. Colm Heffernan, COO, Fenergo

Client Lifecycle Management with Fenergo at HSBC
Ms. Terri Reynolds, Interim Head of Japan, Financial Institutions Head New York, HSBC

Senior Researcher, NRI Takaaki Kobayashi
Senior Researcher, NRI
Takaaki Kobayashi
COO, Fenergo
Colm Heffernan
HSBC Banking Middle Office, Interim Head Japan Terri Reynolds氏
Interim Head Japan, HSBC
Terri Reynolds

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